Global Medical Grade Silicone Market - Overview
The global medical grade silicone market is mainly driven by the growing demand for medical devices made from non-flammable, safe substances that will not interfere with the medication being prescribed to the respective patient. Medical grade silicone is a highly malleable, plastic material that can be molded into almost any shape, making it perfect for applications such as feeding and catheter tubes, drains, etc.
Medical grade silicone is also highly unreactive to chemicals such as strong acids and bases, making it important for use in medical devices, where contact with fairly strong chemicals is par for the course. The growing healthcare sector in a number of countries across the world is thus likely to be a major driver for the global medical grade silicon market over the forecast period. As the healthcare sector has grown, the demand for various medical devices and accessories has grown tremendously. This is likely to remain a major driver for the global medical grade silicone market over the forecast period. The report presents a detailed overview of the global medical grade silicone market by providing a detailed historical review of the market, a comprehensive overview of where the market stands at present, and key projections about the market’s likely growth trajectory in the coming years. The various economic factors having a lasting impact on the medical grade silicone market’s growth are also assessed in the report.
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Global Medical Grade Silicone Market – Prominent Players
3M (U.S.),,Saint-Gobain Performance Plastics (France),,Koninklijke DSM N.V. (Netherlands),,Momentive (U.S.),,Zodiac Coating SAS (France),,Trelleborg AB (Sweden),,Shin-Etsu Chemical Co., Ltd (Japan),,Nusil Technology LLC (U.S.),,Henkel AG & Co. KGaA (Germany),,Polymer Science, Inc. (U.S.),,Applied Silicone Corporation (U.S.),,Primasil Silicones Ltd. (U.K) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Medical Grade Silicone Market.
Market Opportunity:
Recently, the demand for menstruation cups made from medical grade silicone has increased from the female demographic, as they can be easily cleaned and reused. The women’s health sector is likely to remain a key segment for the global medical grade silicone market, as the growing emancipation of women across the world has made them financially self-sustained entities who are spending increasing amounts on cosmetic and personal care items.
The global market is extremely competitive, marked by the presence of several ambitious manufacturers. A massive consumer base along with the significant of chief raw material in Asia Pacific has also pushed the competitive level in the market, as mergers, agreements and partnerships between players rising at a significant rate.
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Medical Grade Silicone Market - Segments:
The global medical grade silicone market is segmented on the basis of the product, application, and region.
On the basis of the product, the global medical grade silicone market is segmented into elastomers, gels, medical adhesives, medical coatings, and others.
Based on the application, the global medical grade silicone market is segregated into medical devices, medical tapes, orthopedics, prosthetics, and contact lenses.
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Medical Grade Silicone Market - Regional Analysis:
MRFR report has highlighted a few key regions as per which the global market for Medical Grade Silicone has been analyzed, namely Latin America, North America, Asia Pacific (APAC), Middle East & Africa (MEA) and Europe.
North America is currently the market leader and will successfully maintain its winning streak throughout the review timeframe. The market growth in the region is backed by the presence of a highly urban crowd and the significant rate of industrialization. The huge food and beverage industry present in the United States also elevates the market position. The region’s well-established infrastructure and the subsequent increase in researches with respect to pharmaceutical and cosmetic products also warrants substantial market growth. Some of the most renowned companies in the pharmaceutical and food & beverages industries are present in the region, which ensures robust demand for the Medical Grade Silicone Market.
The APAC market is progressing at the fastest pace and will secure considerable profits in the ensuing years, since emerging countries like China, and India extensively use Medical Grade Silicone efficiency as pesticides, fungicides and herbicides. The processed food industry in the region is flourishing at a stunning pace, which also ensures the regional market’s prolific run. While the escalating rate of beer consumption in the region bolsters the growth, the presence of a huge number of reputed manufacturers as well as the high availability of key raw materials also add to the market’s value. The vast consumer base across countries such as China and India, further strengthens the market’s position in the region.
Europe can be a moderate gainer in the coming years, encouraged by the rising spending on exhaustive research and development activities in the pharmaceutical sector, which is a major-end-user. The accelerated consumption rate in prominent end-use industries in developed economies such as France, the U.K and Germany bolster the market expansion rate. The substantial product demand in the food processing sector, backed by the approval from the European Commission under EC 1333/2008 will also enhance the market size in the region over the following years.
Industry/ Innovation/ Related News:
April 25, 2018 - Envision TEC (North America), a 3D-printing technology company introduced two - high-purity 3D-printing materials - liquid silicone rubber and biodegradable PCL polyester, appropriate to be used for implantable medical devices. These materials after fabrication of the parts on the company’s 3D-Bioplotter series printers can be implanted in humans.
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